CH 9 Individual Health Insurance Policy General Provisions Flashcards
What health policy provision defines the insured’s duty to provide the insurer with reasonable notice in the event of a loss?
Notice of claim.
What is the name of the act by the insured to voluntarily give up insurance?
Cancellation.
What health policy provision prevents the insured from bringing a lawsuit against the insurance company for at least 60 days after proof of loss is provided?
Legal actions.
What will happen to a health insurance policy if the premium has not been paid by the end of the grace period?
The policy will be canceled.
What renewability provision will most likely appear on a travel accident policy?
Period of time.
If the insured pays a monthly premium for health insurance, how long would the grace period be on the policy?
10 days.
What health policy provision allows the insured a period of time to examine the policy and determine whether or not to keep it?
The free look period.
What health policy renewability provision allows the insurer to terminate coverage for any reason, and to increase the premiums for any class of insureds?
Optionally renewable.
Under an individual disability income policy, the benefits must be paid on at least what schedule?
Monthly.
What health policy provision describes the insureds right to cancel coverage?
Renewability provision.
How will changing one’s occupation to be more hazardous affect the health insurance policy in force?
Claim benefits will be reduced to what the premium would have bought for a more hazardous occupation.
Who pays the expense for an autopsy under the physical examination and autopsy provision?
The insurer.
What does the free look period allow the insured to do?
Return the policy for a full refund of premium within a specified time period (usually 10 days).
What will determine the length of the grace period in a health insurance policy?
The mode of the premium payment.
Who decides which optional provisions would be included in a health policy?
The insurance company.